Fri Sep 20 13:37:00 UTC 2024: ## U.S. Global Investors Announces Stock Repurchase Program and Increased Dividend
**San Antonio, TX, September 20, 2024** – U.S. Global Investors, Inc. (NASDAQ: GROW) announced today a strategic move to increase shareholder value by expanding its stock repurchase program and increasing its monthly dividend. The company plans to repurchase up to $5 million worth of its common stock, representing 14% of its current market capitalization, between September 13th and December 31st, 2024.
The move comes after the Board of Directors approved the updated buyback program, reflecting their confidence in the company’s long-term growth prospects and financial health. This strategy, combined with the ongoing monthly dividend program, aims to deliver consistent returns to shareholders.
“We believe repurchasing our shares at current levels offers a compelling opportunity to enhance shareholder value,” said Frank Holmes, CEO of U.S. Global Investors. “By reducing the number of outstanding shares, we aim to increase earnings per share (EPS) and provide greater ownership value to our shareholders.”
The company will continue to purchase shares when the Class A shares are equal to or below the previous day’s closing price or if the stock trades below a certain amount per share. They may also purchase a block of up to 100,000 shares, on a downtick, usually at the bid or below, in accordance with Rule 10b-18.
Furthermore, the Board approved a monthly dividend payment of $0.0075 per share from October through December 2024. This translates to a 3.54% annualized yield based on the closing price of $2.54 on September 18th.
“We understand that having a strong shareholder yield is important for stock growth,” said Mr. Holmes. “It measures how much value a company returns to its shareholders through dividends, buybacks, and debt reduction.”
The announcement also highlighted the positive performance of gold, an important asset in many of the company’s investments. Gold recently reached a new all-time high intraday price of nearly $2,590 per ounce, driven by geopolitical tensions and anticipation of a Federal Reserve interest rate cut. The rise of gold is attributed to its inverse relationship with Treasury yields, which have recently fallen to a 52-week low of 3.6%.
U.S. Global Investors continues to focus on niche markets worldwide, providing investment advisory and other services to U.S. Global Investors Funds and U.S. Global ETFs. Their commitment to shareholder value, combined with a focus on gold and other key market trends, positions them for continued success in the coming months and years.
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